US stocks slump on Greece woes

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US stocks have closed at three-month lows as more investors are worried about the political stalemate in Greece.
On Tuesday, the Dow Jones Industrial Average dipped 63.35 points (0.50 percent) to close at 12,632.00, the lowest level since January 19, while the S&P 500 fell 7.69 points (0.57 percent) to 1,330.66, CNN reported. The Nasdaq Composite Index shed 8.82 points (0.30 percent) to close at 2,893.76.
The last two indexes finished at the lowest levels since February 2.
The collective plunge followed news that depositors in Greece -- the epicenter of the eurozone debt crisis -- withdrew EUR 700 million from the nation’s local banks on fears that the European country might have to stop using the euro as its legal tender amid Greek leaders’ failure to form a coalition government.
The lingering political uncertainty in Greece has already affected markets in Asia and Europe.
MHB/HN